NPR’s This American Life has a great episode (”The Giant Pool of Money“) explaining in a non-technical, entertaining manner how the “credit crunch” came upon us. The episode looks at all the parts of the mortgage-backed securities chain: home owners and borrowers, brokers, banks, rating agencies, Wall Street, and foreign and domestic investors.
A special program about the housing crisis produced in a special collaboration with NPR news. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.